Every economic decision involves a trade-off because of
A. theory.
B. opportunism.
C. consumption.
D. scarcity.
E. efficiency.
Answer: D
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Economic analysis is useful is resolving all of the following types of issues EXCEPT:
A. positive B. monetary policy C. normative D. fiscal policy
When the price level is below the level at which the aggregate demand curve crosses the long run aggregate supply curve
A) there will be no price level change. B) there will be pressures that will lead to a shift of either the aggregate demand or the long run aggregate supply curves. C) total planned real expenditures will exceed actual real GDP, and the price level will increase. D) total planned real expenditure will be lower than actual real GDP, and the price level will increase.
Which of the following would cause the U.S. money supply to expand?
a. a commercial bank using excess reserves to extend a loan to a customer b. a commercial bank purchasing U.S. securities from the Fed as an investment c. an increase in reserve requirements d. an increase in the discount rate
What does NOT occur in a fully employed economy?
A. Cyclical unemployment B. Discouraged workers C. Frictional unemployment D. Structural unemployment